Forgot Password For Your Bitcoin Wallet Or Even Deleted It By Accident? Then This Berlin Company Could Be Your Savior
After the sideways trend that has dominated the entire crypto space since mid-May and caused prices to stagnate, a fresh wind is blowing in Bitcoin and Co. right now.
With every price increase, the number of desperate people who have gotten their hands on Bitcoin or Ethereum in the past and now realize that they no longer have access to their coins is increasing.
This is where ReWallet comes into play. The Berlin-based company helps people regain access to their wallets. We talked to ReWallet about cryptocurrencies, lost wallets and missed opportunities…
Initial Excitement and Disappointment: Crypto Enthusiasts Looking for the Right Business Model
The company founders had actually lost sight of cryptocurrencies until they were surprised by the new boom in 2020.
These individuals were actually classic early adopters of cryptocurrencies. They owned Bitcoin when the asset was largely unknown to the general public and was shunned by most financial experts.
At that time, the company founders who wanted to get involved in the crypto business decided that they could not think of a credible business model, although they worked heavily on Ethereum and Smart Contracts.
In addition, the fear of government interference with the uncontrolled currency and the probability of an associated collapse was overwhelming. “We were worried that the state would aggressively defend the money monopoly and ban Bitcoin sooner or later.” After the end of the ICO wave, the two felt their concerns were validated and for now turned to other entrepreneurial projects.
Where is the password? Restore Bitcoin and Ethereum Wallet!
Then came 2020. With a global pandemic and the dwindling supply of Bitcoin, prices soared and peaked in the aftermath of the crisis, following Elon Musk’s tweets in early 2021.
New heights have been seen thanks to Gamestop and Tesla.
The same was true for Ethereum, which has benefited greatly after Bitcoin.
The founders were delighted. After all, there have been several BTC and Ether stored in wallets since then.
But of course Bitcoin and Ethereum Wallet are encrypted. At that moment, the entrepreneurs realized that their wallets stopped working:
“We felt paralyzed. I still found my old hard drive but the wallets were nowhere to be found.”
But giving up was not an option for him. After many sleepless nights they managed to recover the wallets. However, this was only the first step towards accessing the coins.
Lost Access to Bitcoin Wallet: What to Do?
And then there were the passwords: “I didn’t write my wallet passwords properly. I knew the rough nature of the password, but I couldn’t put it together completely,” they continued to think.
But giving up wasn’t an option this close to the finish line. They started looking for a solution and eventually found software that could try many different passwords in a short time. They adapted this software to perform calculations on many servers at the same time. Because the performance of a single ordinary desktop computer would not be enough to recover the password immediately.
After two days of computation time, the time had come: the software made a conclusion and they were able to recover the passwords of Bitcoin and Ethereum wallets.
One of the founders describes how remembering the password helps to recover it quickly:
We already knew approximately which characters should appear in the password, and we were also able to limit the length to four characters. This allowed us to configure the software so that we could quickly find the correct password.
But this is not the end of the Berlin founders’ story, on the contrary, it is just beginning. In their adventure of recovering their wallets, they have acquired a toolkit of experience, knowledge and technique.
“We learned a lot and realized that there are thousands of people with the same problem,” said one of the founders about the start of their service. Today, they help customers around the world recover wallets they think they’ve lost.
“Can You Recover My Bitcoin Wallet?” – Daily Life During the Crypto Explosion
At first glance, the founders’ jobs are not much different from the usual office jobs. They sit in their Berlin office most of the day, answering customers’ questions via email.
We often get questions from people who were paid with Bitcoin by a customer a few years ago.
Back then, they didn’t think much of it until they read about the enormous price hikes in the papers. Now these people understandably want their money. If you were paid with 3 Bitcoins (about $1,000) in 2015, you can sell those Bitcoins for around $60,000 today.
ReWallet also helps with deleted wallet files or physical problems with storage media, rather than encrypted wallets. In this way, several wallets thought to have been lost have already been restored.
All incoming inquiries are first analyzed for feasibility. The company cannot always assist in regaining access to the wallet, for example, if the password is too long and there are no clues as to the password’s composition.
“Some competitors claim they can still gain access to the wallet – this is often scams,” the company says.
However, this does not mean that the wallet is lost forever. A few years ago, many cases seemed hopeless because the password was too long or too complex. However, the founders are constantly improving their programs.
Here’s how the company explains how it can restore more Bitcoin and Ethereum wallets with each update:
“With each update of the software, we test new functionality on old wallets that we were unable to restore at the time. Sometimes the software can save the wallet later, our customers are particularly happy about it.”
Restoring the Wallet is a Matter of Trust
The company is aware of the special situation its customers are in. After all, you can keep the Bitcoins after restoring the wallet. Customers must have great confidence in the company – therefore ReWallet concludes a suitable contract with each new customer according to German law.
Have a consistent positive review history and reduce the anxiety of new customers.
No one should be afraid of losing more money if the wallet recovery fails. That’s why we work on the basis of success.
Our message: “Try the service, you have nothing to lose.”
If ReWallet manages to recover the Bitcoin or Ethereum wallet, 20 percent of the wallet value is paid. So far they have been very successful with this, “We receive requests for our service every day.”
For this reason, an interrogation is almost always useful, especially since it can be completed in a matter of minutes. In addition to trust, the company attaches great importance to the simplest possible processing.
“The situation is stressful enough for our customers, one mistake could cost them thousands of euros. We don’t want to be a burden to them any more.”
On the website, you fill out a simple, short questionnaire with the most important information about the lost wallet.
On this basis, the company then checks if there is a chance to restore the wallet.
If the evaluation is positive, you will receive a contract. Then the company starts working.
You can find more information about recovery on the company website: www.rewallet.de
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!